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Children and Young Adult Books Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Children and Young Adult Books Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6071802
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the children and young adult books market are Hachette Book Group, Holtzbrinck Publishing Group, Phoenix Publishing House, Bonnier, China Publishing Group, De Agostini Editore, HarperCollins Publishers, Informa, Kadokawa Publishing, and Kodansha.

The global children and young adult books market is expected to grow from $16.88 billion in 2020 to $18.2 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $21.95 billion in 2025 at a CAGR of 4.8%.

The children and young adult books market consists of revenues generated by entities (organizations, sole traders, or partnerships) that carry out design, editing, and marketing activities necessary for producing and distributing children and young adult books.These establishments may publish books in print, electronic, or audio form.

Only goods and services traded between entities or sold to end consumers are included.

Books publishing companies are increasingly implementing personalized storybooks that allow inserting children’s names, interests in the story.Most of the companies are publishing personalized bedtime storybooks.

For instance, Wonderbly publishes a personalized story that lets the children imagine themselves doing some extraordinary things, and it also publishes a book for each age group accordingly. Bookyboo is another company that provides personalized books for children.

The children and young adult books covered in this report is segmented by type into print book; ebook; audiobook and by end-user into children (2 to 10 years); adolescents (11 to 17 years); young adults (18 to 25 years).

In April 2019, Canadian book wholesaler, Book Depot has acquired Kidsbooks, a children’s book publisher for an undisclosed amount.Kidsbooks focused on publishing the activity books, board books, sounds books, and novelty books and has about 1000 titles.

Book Depot also purchased the intellectual property of Rainstorm publishing.

The increase in the disposable income of consumers contributed to the growth of the children and the youth-adult books market.An increase in disposable income boosts consumer purchasing power and increases the probability of consumer spending in leisure activities including reading books.

According to the United States Census Bureau, the median household disposable income in 2018 was $63,179 which increased to $68,703 in 2019. Therefore, the increase in the disposable income of consumers drove the children and the youth-adult market.

The increase of book piracy in book publishing is a major challenge in the children and young adult books market.According to 2018 Authors Guild income survey, the median author income has declined to $6,080 from $8000 in 2014 and $10,500 in 2009 due to piracy.

Earnings from book income alone fell, even more, declining 21 per cent to $3,100 in 2017 from $3,900 in 2013.The Nielsen survey commissioned by Digimarc that provides copyright and trademark protection services estimates that the book publishers lose $315 million per year in sales due to privacy concerns.

The increase of book piracy negatively impacts the children and the young adult book market.

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